Owing to Cost-Effectiveness and Time Efficiency, Telemedicine Market Shows Lucrative Avenues for Growth

Industry Insights

Telemedicine is one of the important services of the global healthcare ecosystem. Using this service, the process of healthcare treatment can be accelerated immensely. Telemedicine works as a virtual platform and makes communication between doctors and patients easily possible. It assists doctors in providing recommendations and advises to their patients. All these aspects show that the global telemedicine market will achieve promising growth during the upcoming period.

Growing demand for personalized care and need for privacy in treatment services is helping the telemedicine market to flourish. Based on specialty, the global telemedicine market is segmented into dermatology, cardiology, orthopedics, neurology, internal medicine, emergency care, gynecology, and others. Cost-effectiveness and time efficiency offered by telemedicine are some of the major driving factors that have pushed major population toward the use of these services among both urban and rural healthcare institutions.

Governments of many countries have increased efforts to encourage the use of telemedicine services. In addition, favorable reimbursement policies for these services are boosting the global telemedicine market. Tele-consultation, tele-education, tele-monitoring, tele-care, tele-surgery, and tele-training are the services covered under the global telemedicine market.

Owing to presence of many players, the competitive landscape of the global telemedicine market is highly fragmented in nature. The list of some key players includes Allscripts Healthcare Solutions, Inc., Agfa HealthCare NV, CARDIOCOM, LLC, AMD Global Telemedicine, Inc., and CISCO Systems, Inc.

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The telemedicine market is spread in numerous regional areas including North America, Europe, Asia Pacific, and rest of the world. Of them, Asia Pacific is one of the prominent regions showing promising avenues for the market development. With expansion of telecommunication sector and increased use of mobile phones in rural areas, many key vendors in the region are focusing their shift to spread out their service area in rural areas.

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